Technical Analysis – GBPAUD breaks above 50-day moving average
Posted on June 21, 2016 at 8:36 am GMTGBPAUD jumped to a 2-week on Monday to reach 1.9732 after a successful break above the 50-day moving average which was previously acting as resistance. Prices also rose above the 50% Fibonacci retracement level of the rise from 1.8292 to 2.0533. This level lies at 1.9408. The market is now testing the 38.2% Fibonacci level at 1.9672. The daily momentum shows potential for more upside as the RSI has popped above the 50 level into bullish territory. A successful daily [..]